should i invest in nigeria or banks in the middle east for example? where are you putting money at all in that? we are. but carefully. one moust look at how demographics are emerging in markets. they allow you to divers fi more broadly. gold real estate and cash. >> how much of your assets are in gold right now. we are in 3 and 4%. we think people should have gold as some time. there is a risk if the fed should start to decline long-term real interest rates will gain and that will be bad for gold. we have active versus passive management. you are moving stuff around the world all the time. about a shird of your money is in this active piece of your money. >> we believe in passive management. we believe the etf's do a good job. which class do you want to be in? >> thank you for being with us. biggest etf adviser in the united states. >> back to you. we are just over an hour into trading. let's send it over to don chu. >> apple shares you can see they are up 3% and that is after an 8% move karl back over tow. >> when we come back your chance to get in o